Apogee South Beach Penthouse News

What Recession? Miami Apartment Listed at $22 Million

NY Daily News
Money
September 23, 2008, 7:22 PM
Daily News Staff

With the economy tanking, this may not seem like the best time to put an apartment on the market for $22 million.

But that's just what a new listing for a Miami penthouse shows, according to a blog post in the International Herald Tribune by Kevin Brass.

According to the Apogee Penthouse Web site, Apogee Penthouse A is "South Florida's Most Dazzling Penthouse. Ever." It has 6,853 square feet of interior space with six bedrooms and 7.5 bathrooms. For your $22 million, you will also get an 11,000-square-foot terrace with a private pool.

But will it sell? According to Brass, real estate agents say that the high end of the Miami market continues to be strong, even while prices have fallen 20% elsewhere in the area. Apparently, foreign buyers have played a major role in keeping luxury homes in demand.

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